EarningsQ2 2026 Earnings Report
MX:CMI Q2 2026 EPS Results
Actual EPS$122.22
Consensus EPS$130.94
Beat/MissMissed by -$8.72
One Year Ago EPS$116.77
MX:CMI Q2 2026 Revenue Results
Actual Revenue$171.75B
Expected Revenue$169.44B
Beat/MissBeat by +$2.30B
YoY Revenue Growth+9.42%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:CMI Upcoming Earnings
Cummins's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CMI Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong operational and financial momentum: record revenue and EBITDA dollars, raised full-year revenue and EBITDA guidance, robust cash flow, meaningful data center and China demand, and expanded capacity/product plans. Offsetting pressures include margin percent compression driven by incentive compensation, higher R&D/product coverage and freight costs, ongoing Accelera losses, and power generation capacity constraints that temper upside. Management communicated clear plans to invest in capacity, execute a phased EPA-driven engine rollout to smooth transition risk, and return capital to shareholders.Company Guidance
Record Quarterly Sales
Second quarter sales of $9.5 billion, up 9% year-over-year, representing a record second quarter for the company.
Record EBITDA Dollars and Strong Operating Cash Flow
EBITDA of $1.7 billion (17.5% of sales) and operating cash flow of $1.5 billion (record for a second quarter), with all-in net earnings of $932 million or $6.73 per diluted share (up from $890 million / $6.43).
Raised Full-Year Revenue and EBITDA Guidance
Full-year revenue guidance increased to +10% to +13% (from 8% to 11%); EBITDA guidance midpoint increased to a range of 18% to 18.5%.
Power Systems / Data Center Momentum
Power Systems revenue was a record $2.3 billion, up 19% year-over-year, with EBITDA margin improving to 24.5% (from 22.8%). Signed a multiyear agreement with a global hyperscaler for several gigawatts of future backup power demand and a prime-power project with Circe Energy.
Strong China Performance
China revenues (including JVs) were $2.3 billion, up 30% year-over-year; China power generation sales rose 88% in the quarter; China full-year revenue guidance raised to ~+15% (from +10%).
Improving North America On-Highway Market
North America revenues increased 8% year-over-year; heavy-duty unit sales were 23,000 (up 2% YoY). Company raised North America heavy-duty forecast midpoint to 240k–250k units and medium-duty to 130k–140k units.
Distribution and Components Growth
Record Distribution revenues of $3.3 billion (up 9% YoY); Components revenues $2.9 billion (up 7% YoY); Engine segment revenues $3.1 billion (up 6% YoY).
Shareholder Returns and Dividend Increase
Returned $501 million to shareholders in Q2 (approximately 50% of operating cash flow) including $225 million in repurchases and $276 million in dividends; Board approved a 10% increase in the quarterly cash dividend (17th consecutive year of growth).
Accelera Revenue Growth
Accelera revenues increased 38% to $145 million year-over-year; full-year Accelera revenue guidance raised to $350–$400 million (from $300–$350 million) with reduced projected net loss range of $260–$290 million (improved from prior guide).
Capacity Investments and Product Roadmap
Announced expanded global capacity investments and development of a 130-liter natural gas genset and reiterated phased on-highway engine transition plan tied to EPA proposed flexibilities to smooth 2027 launches.
MX:CMI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed